Buying activity for real estate in Sydney has been widely reported throughout 2013, after the state capital experienced record-high auction clearance rates for many parts of the year.
Whether this activity has been due to low interest rates, tightening rental vacancy rates or the opportunity to secure a high-growth investment, it has all led to a supply and demand housing issue in the region.
As a result, this has pushed up house prices and left some buyers - especially first home purchasers - out in the cold.
To combat this issue, the New South Wales government has announced it will construct a further 3,200 homes in Sydney's south west.
These properties will be constructed in the Catherine Field precinct and homes will enter the market for sale in 2015.
"There's a massive housing boom occurring in NSW that is being driven by the unlocking of more land for new homes by the NSW government," said NSW Premier Barry O'Farrell in a December 28 statement.
"We are making homes more affordable and in the process Western Sydney is being transformed into a tradies' paradise, with the creation of thousands of jobs in the construction sector."
Furthermore, Treasurer Mike Baird said boosting housing supply will ease competition and "help to get more first homebuyers into the housing market sooner".
Infrastructure and homes to go hand-in-hand
While the government will develop more homes to combat housing supply issues, it will also invest a significant amount into infrastructure in the Western Sydney region.
The government has announced it will invest $30 million into the area, which will go to an array of projects including land for a new primary school, building the main sewerage line and a road extension to Rickard Road.
As the state capital's population continues to increase at a fast rate, it's important the state government prepares the area to accommodate for future residents.
Western Sydney's future development
The NSW government expects Western Sydney will become a major employment zone in the region and will accommodate approximately 50 per cent of the state capital's new jobs by the year 2031.
Western Sydney is also predicted to be home to more than half of new Sydneysiders in this timeframe, demonstrating the need for development heading into the future.
Homes, jobs and land for employment uses are all outlined to be released in the coming years in order for the government to achieve its goal of turning Western Sydney into thriving place to live and work.
